VC Firm Finix Partners Acquires Fintech Startup Slash

Finix Partners, a venture capital firm helmed by former BharatPe co-founder Bhavik Koladiya, has successfully acquired the fintech startup Slash. This acquisition has led to a comprehensive transition, with all stakeholders, including founders and investors, exiting Slash. However, Finix Partners has retained essential assets such as intellectual property, trademarks, and other company assets.

While the complete details of the acquisition remain undisclosed, it is evident that the move holds strategic importance. Sources reveal that in recent weeks, the entire workforce of Slash has either departed or been let go. Bhavik Koladiya confirmed the acquisition but refrained from divulging further specifics. He did, however, convey that Slash will operate as an independent entity within Finix Partners’ portfolio companies. Notably, the Slash App is currently undergoing a comprehensive revamp in preparation for a relaunch.

Slash, based in Delhi and owned by Greenbacks Technologies Private Limited, was established by Laman Ansari and Rahul Mahajan. Notable investors, including Elevation Capital and Tanmay Bhat, supported the startup. Laman Ansari, former CEO of the company, transitioned out of Slash in April and is now engaged as a machine learning consultant at a UK-based firm.

Facing financial constraints, Slash encountered challenges in raising its series A funding round. Over the past six months, the startup actively explored merger and acquisition possibilities, engaging in discussions with prominent fintech entities.